US cloud computing giant Salesforce said Wednesday it was buying rival Demandware for $2.8 billion in a move that expands its offerings to the retail sector.
Salesforce, known for computing platforms that help manage marketing and other business services, will integrate with Demandware, which works with retail groups such as Design Within Reach, Lands' End, L'Oreal and Marks & Spencer.
"Demandware is an amazing company—the global cloud leader in the multibillion dollar digital commerce market," said Marc Benioff, chairman and chief executive of Salesforce.
"With Demandware, Salesforce will be well positioned to deliver the future of commerce as part of our Customer Success Platform and create yet another billion dollar cloud."
A statement by the firms said San Francisco-based Salesforce would acquire Massachusetts-based Demandware in a cash deal expected to close by July 31.
The deal brings together the Salesforce enterprise cloud which helps companies in marketing, analytics and other services with the retail platform of Demandware, according to the companies.
"Demandware and Salesforce share the same passionate focus on customer success," said Tom Ebling, CEO of Demandware.
"Becoming part of Salesforce will accelerate our vision to empower the world's leading brands with the most innovative digital commerce solutions that enable them to connect 1:1 with customers across any channel."
© 2016 AFP